Restaurants spend huge amounts of money on special equipment and trade fixtures, such as refrigerators, stoves and ovens, to build out a space. When a restaurant space is leased, who owns these assets: landlord or tenant? Restaurant tenants should be sure to focus on this important term when negotiating a restaurant lease.
Read More1. Buying the Assets vs. Buying the Company
Buying a business can be structured as an asset sale or as the purchase of an ownership interest in the legal entity that owns the restaurant. There are critical differences between these two options which come into when dealing with the Liquor Commission, Sales Tax Department and a myriad of vendors.
Read MoreLetters of intent can be confusing. Are they contracts? Are they binding? When should they be used? It’s important to know when to use letters of intent because they can be valuable tools that can save time and money. We receive these questions all the time, so here are some concepts that will help.
Read More
